401(k) cash-out alternative could be reg of last resort

Elswick, Jill
October 2001
Employee Benefit News;10/1/2001, Vol. 15 Issue 13, p49
Focuses on the 72(t) provision of the United States Internal Revenue Service code which permits early distributions, with no penalty beyond normal income tax from individual retirement accounts. How employees can use the 72(t) provision as alternative to cashing out 401(k) plans; Caveat to the provision; Methods for calculating 72(t) early retirement distributions.


Related Articles

  • Get ready for IRA reporting. Zuehlke, Dennis // Credit Union Magazine;Jan2003, Vol. 69 Issue 1, p50 

    Focuses on the requirement in reporting the required minimum distributions from the individual retirement account (IRA) in the U.S. Provision of a statement of the amount by the IRA fiduciary; Issuance of guidance by the Internal Revenue Service; Assessment of the market value statement.

  • IRS minimum distribution rules for IRAs. Kistner, William G. // hfm (Healthcare Financial Management);Jul96, Vol. 50 Issue 7, p102 

    Provides information about the Internal Revenue Service's minimum distribution rules for individual retirement accounts (IRAs). Age requirement; Determination of the payout period if payments are made under an annuity contract issued by an insurance company; Excise tax; Minimum distribution...

  • IRS nixes multiple conversions to Roth IRAs. Napach, Bernice // Medical Economics;12/14/98, Vol. 75 Issue 24, p23 

    Reports that the United States Internal Revenue Service (IRS) has clamped down on multiple conversion of individual retirement accounts (IRA) to Roth IRA. Number of times conversion is possible in 1998 and 1999; Tax advantages of conversion.

  • Questions to the tax desk. Phillips, Bernie // National Public Accountant;Nov98, Vol. 43 Issue 9, p8 

    Explains the United States Internal Revenue Service's proposed regulations aimed at eliminating confusion over the tax treatment of Roth individual retirement accounts (IRA). Treatment of a Roth IRA in the same manner as an individual retirement plan; Special rule for married taxpayers; Roth...

  • Time for Recharacterizing 1998 IRA Contributions. Phillips, Bernie // National Public Accountant;Aug99, Vol. 44 Issue 6, p8 

    Announces the deadline for taxpayers in the United States for making the election to recharacterize 1998 individual retirement account (IRA) contributions. Background of the Internal Revenue Service Code; How a taxpayer makes the election to recharacterize an IRA contribution; Regulations for...

  • IRS Clarifies Stance On IRA Minimum Distributions. Caudill, April // National Underwriter / Life & Health Financial Services;8/14/2000, Vol. 104 Issue 33, p28 

    Discusses the clarification made by the United States Internal Revenue Service (IRS) on Individual Retirement Account (IRA) minimum distributions. Rule concerning an IRA owner who dies after having begun required distributions from the IRA; Description of the minimum distribution incidental...

  • New IRA distribution rules may cut taxes for seniors. Folz, David A. // Fort Worth Business Press;02/09/2001, Vol. 13 Issue 42, p20 

    Reports changes in the distribution rules of Individual Retirement Accounts (IRA) in the United States. Efforts of the Internal Revenue Service to audit taxpayers; Need for IRA trustee to submit year-end value of taxes; Tips on planning IRA withdrawals.

  • IRS OKs Rollover By Widow Of Intestate IRA Owner.  // National Underwriter / Life & Health Financial Services;8/4/2003, Vol. 107 Issue 31, p23 

    Focuses on the case of widow who has given the permission to make a rollover from her deceased husband's individual retirement accounts by the Internal Revenue Service in the U.S. Flexibility on the part of the Service; Details of the claims of the widow; Identification of gross income of the...

  • Simpler Retirement Withdrawals. Baumer, Dick // DollarSense;Spring2001, p15 

    Presents a method of calculating the minimum distribution amount of retirees in the United States. Distribution rules for tax-deferred retirement plans imposed by the Internal Reserve Service; Changes in tax-favored retirement plans; Determination of annual individual retirement accounts.


Read the Article


Sign out of this library

Other Topics